Time is an amazingly variable amount of money: endowment and ownership effects in the subjective value of working time

Article Abstract:

A study investigated the endowment effect in the subjective evaluation of time. The endowment effect refers to the desire of buyers to receive a higher value for the goods they purchase than the price they are willing to pay when acquiring identical merchandise. Two general conclusions were drawn from the research findings. These are that the endowment effect does occur in the subjective evaluation of time, and that this phenomenon is most probably a joint result of mere ownership and loss aversion.

Economic Views, Case studies, Time, Economic policy, Public opinion, Value (Economics), Time perspective

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New experiments on the endowment effect

Article Abstract:

Endowment effect is the overevaluation of an asset due to possession of it. Experiments conducted on the endowment effect show that high and fictitious payoffs result in very strong effects whereas relatively high and real payoffs show transient effects. These results were attributed to displacement of rational behavior with worthwhile gains. It is not yet proven whether instinctive bias is responsible for the overevaluation.

Evaluation, Consumer behavior, Indifference curves

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The role of emotions in the endowment effect

Article Abstract:

Influence of emotions on endowment effect is examined.

United States, Endowment effect

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